The state-owned TV network said its annual auction of prime time slots, held on Tuesday, brought in Rmb9.3bn ($1.4bn), up almost 16 per cent from 2008.
The rise in advertising revenue is particularly surprising as it follows the Olympics this year, which generated a surge in ad revenues. The countries that held the past three Olympic Summer Games – Greece, Australia and the US – all experienced a drop in advertising sales the year after the games.
“One third of the auction bidders were first-timers, signalling stronger-than- expected advertising demand in China,” said Richard Ji, an analyst at Morgan Stanley, in a note to clients. He also noted the strong commitments from financial sector companies and industries with exposure to domestic consumption.